The Mortgage Works (TMW) has reduced rates by up to 0.60 percentage points on its buy-to-let and let to buy mortgage products.
New two, three and five year fixed and two year tracker products have been added to the 60% LTV tier, with rates now starting from 2.39%. Existing two year fixed rates have also been reduced by up to 0.60 percentage points.
In addition, selected products up to 75% LTV have been reduced by up to 0.50 percentage points.
Rates include:
- Two year fixed rate product 2.84% at 60% LTV, £995 fee
- Three year fixed rate product 3.39% at 60% LTV, £995 fee
- Five year fixed rate product 3.89% at 60% LTV, £995 fee
- The new range of rates is available to both buy-to-let and let to buy customers, and are available to both first time and experienced landlords.
Henry Jordan, managing director of The Mortgage Works, said: “Landlords are keen to access competitively-priced fixed rate deals, especially now that there is increasing discussion surrounding the possibility of an interest rate rise.
“TMW has introduced rate reductions focused on lower LTV products, improving the competitiveness of products for landlords with a larger deposit and allowing them to fix for the longer term. The refreshed range of fixed and variable rate products is great news for both experienced and first-time landlords and for those customers looking to better their current rate.”